1940s Economics
World War II played a pivotal role in U.S. economics. The war influenced the way American businesses were run in the 1940s. According to the Public Broadcasting Service (PBS), the American industry doubled in size and provided nearly two-thirds of military equipment for allied forces. This period caused the end of the Depression and help solidify America as a superpower.
Other People Are Reading
-
Ending the Great Depression
-
The 1940s was a significant era for the growth of American culture and business. The nation slowly recovered from the economic collapse of the Great Depression; businesses built up their reputations, wages increased, and more jobs became available. The passing of the Taft-Hartley Act provided stability between government and labor unions. This created a better domestic climate for industrial wages and hours worked.
Art Movement
-
Adolf Hitler ordered the death of artists whose views differed against his own. Hitler's political views forced Europeans to emigrant to the United States, where artists had an impact on American culture. An art movement called abstract expressionism achieved worldwide influence, which placed New York City at the top of the art world, a prestige once held by Paris. Abstract expressionism was a term created by art critic Robert Myron Coates' during the post-World War II era.
-
World War II
-
In the 1940s, businesses and industries were dominated by World War II. Before the war, deflation swept industries and factories; buildings closed because their services were not needed. At the beginning of the war, Europe needed material to continue their fight with the opposition. America provided the demand and Europeans paid millions of dollars for the goods. Closed factories reopened, and the increase of customer demand opened the opportunity for people to work.
Work Force
-
As the United States entered the war, the government recruited more men, which created a lack of employees in America. Women replaced men in the workplace, which created opportunities other than maternal domestic roles. In the absence of men, women learned how to manage their finances, create meals for their families when food was rationed, and receive a college education. African-Americans and Latino-Americans also found jobs readily available.
-
References
- Photo Credit George Marks/Retrofile/Getty Images
